Amcor plc (NYSE:AMCR) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in shares of Amcor plc (NYSE:AMCR) by 3.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,794,593 shares of the company’s stock after selling 301,289 shares during the period. JPMorgan Chase & Co.’s holdings in Amcor were worth $99,643,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lake Street Advisors Group LLC raised its holdings in shares of Amcor by 8.4% in the third quarter. Lake Street Advisors Group LLC now owns 12,210 shares of the company’s stock valued at $138,000 after buying an additional 946 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Amcor by 9.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 11,646 shares of the company’s stock valued at $132,000 after acquiring an additional 1,023 shares during the last quarter. Forum Financial Management LP raised its stake in Amcor by 7.7% during the 3rd quarter. Forum Financial Management LP now owns 14,761 shares of the company’s stock valued at $167,000 after acquiring an additional 1,058 shares during the last quarter. Prime Capital Investment Advisors LLC lifted its position in Amcor by 6.1% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 18,961 shares of the company’s stock worth $215,000 after acquiring an additional 1,085 shares during the period. Finally, Cardinal Capital Management grew its stake in shares of Amcor by 1.3% in the 3rd quarter. Cardinal Capital Management now owns 117,094 shares of the company’s stock valued at $1,327,000 after purchasing an additional 1,478 shares during the last quarter. 45.14% of the stock is owned by hedge funds and other institutional investors.

Amcor Stock Down 0.6 %

Shares of NYSE AMCR opened at $9.35 on Friday. The company has a quick ratio of 0.74, a current ratio of 1.29 and a debt-to-equity ratio of 1.80. The firm has a 50-day moving average price of $10.16 and a 200 day moving average price of $10.47. Amcor plc has a 52 week low of $8.78 and a 52 week high of $11.48. The stock has a market capitalization of $13.51 billion, a price-to-earnings ratio of 17.64, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82.

Amcor (NYSE:AMCR) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.16 EPS for the quarter, hitting the consensus estimate of $0.16. Amcor had a return on equity of 25.60% and a net margin of 5.68%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter in the previous year, the company earned $0.16 EPS. The company’s quarterly revenue was down 2.6% on a year-over-year basis. Equities research analysts anticipate that Amcor plc will post 0.74 EPS for the current fiscal year.

Amcor Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were issued a $0.1275 dividend. This is a positive change from Amcor’s previous quarterly dividend of $0.13. The ex-dividend date was Thursday, November 21st. This represents a $0.51 annualized dividend and a yield of 5.45%. Amcor’s dividend payout ratio is 96.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AMCR shares. UBS Group upgraded Amcor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 11th. Macquarie upgraded shares of Amcor from a “neutral” rating to an “outperform” rating in a research note on Wednesday, November 27th. Bank of America upgraded shares of Amcor from an “underperform” rating to a “buy” rating and set a $12.50 price target on the stock in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company lifted their price objective on Amcor from $10.50 to $10.80 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Amcor currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.20.

Amcor Company Profile

Amcor plc develops, produces, and sells packaging products in Europe, North America, Latin America, Africa, and the Asia Pacific regions. The company operates through two segments, Flexibles and Rigid Packaging. The Flexibles segment provides flexible and film packaging products in the food and beverage, medical and pharmaceutical, fresh produce, snack food, personal care, and other industries.